In episode 22 of The Real Talk, Raquel Ramirez is joined by special guest, Michael Lux, a financing expert and branch manager at Alterra Home Loans. With over 39 years of experience in the mortgage and real estate business in South Florida, Michael shares his insights and expertise on housing and mortgage strategies. He also discusses his role as a certified divorce lending professional and the importance of educating realtors and fellow bankers in the industry.

Tune in for an insightful conversation about real estate, divorce, financing, and navigating difficult transactions.

TIMESTAMPS

[00:02:14] The Lending Process.

[00:04:17] Cash Overflow in Coral Gables.

[00:08:43] Financial Considerations in Divorce.

[00:13:04] Assumable Loans and Divorce Settlements.

[00:16:37] The Garn-Sait-Germain Act.

[00:21:16] Cooperative Approach in Divorce.

[00:23:16] Co-representation in Divorce Cases.

[00:27:30] Financing Options in Divorce.

[00:32:08] Affordability of Mortgages.

[00:40:03] Pulling Money from Retirement Accounts.

[00:43:26] Finding Solutions in Divorce Cases.

[00:48:29] Dissolution of Marriage and Assets.

[00:51:02] Scams and Solicitations.

[00:56:07] Misinformation in Mortgage Rates.

[00:57:37] Value of Real Estate Services.

In this episode, Raquel Ramirez and guest, Michael Lux, mention that realtors have a multifaceted role in the real estate industry, going beyond paperwork and contracts to provide comprehensive services. They engage in analysis, build relationships, vet people, organize details, coordinate, negotiate, and have extensive knowledge of laws and boundaries in the industry. Raquel and Michael also emphasize that realtors have an ethical responsibility to prioritize their client's needs and provide valuable information. 

Moreover, Raquel and Michael highlight that each real estate transaction is unique due to the uniqueness of each household and person involved. Even if two households are identical, there will still be at least one difference in the transaction. Real estate professionals who specialize in handling complicated transactions are acknowledged as they provide the right value and real viable solutions to their client's unique situations. With their knowledge, expertise, and skills, these professionals navigate the complexities of each transaction and ensure their clients' needs are met.

QUOTES

• “No matter who made the mistake, I owned it for them, and then they would call me, and then I was the one who would fix it. And that was one of the greatest things that could ever happen to me, not only for my career but also for my personal life. Of course. Because it really taught me the value of listening to people.” - Michael Lux
• “To listen, figure out what everybody's wants are, what their needs are. And a lot of times if we're there from the beginning, we could save people a ton of money, a ton of hardship, a ton of failure.” - Michael Lux
• “If it were up to me, I would meet with every one of my applicants because you can really serve your clients best when you get that authentic feel for them." - Michael Lux
• "In other words, they had every right intention of helping each other, except they made all the wrong decisions, which ultimately cost them their credit, their finances, it even cost them their physical health, not to mention their safety and security, mental health, you name it." - Raquel Ramirez
• "There are more solutions that can be tailor-made to your specific situation." - Raquel Ramirez

SOCIAL MEDIA LINKS

Raquel Ramirez

Instagram: https://www.instagram.com/featured_properties_intl/

Facebook: https://www.facebook.com/featuredre

LinkedIn: https://www.linkedin.com/in/raquel-ramirez/

Michael Lux

Facebook: https://www.facebook.com/profile.php?id=100084942236741

LinkedIn: https://www.linkedin.com/in/michael-lux/

WEBSITES:

The Real Talk: https://www.therealtalkpodcast.net/

Featured Properties International: https://msha.ke/featuredre